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the fiscal cliff that includes no tax increases. sbainer boehner and other republican leaders have been too scared about suffering publicly if the nation goes over the cliff and the tax sbikeses that are triggered in january. now that the plan b has failed these conservative republicans should be empower you ared to make big demands and stop caving to the president out of fear." guest: that doesn't make much sense to me. you have to get it through the house republicans then the president has to sign something, if that doesn't happen then you have very large tax increases a lot more than what they were talking about in their negotiating and you have the defense cuts that happen overtime and some other, nondefense cuts. you really have this huge amount of revenue, a lot of debt reduction. it is hard to see what demands the republicans can think will be easier to make come the new year. guest: plus, we've seen the president's approval level is at a high. and the poll should show that the republicans are going to be blamed if we go over the cliff and taxes go up. that is before the debacle with
is no deal on taxes. nearly every american is going to have to pay more in just eight days if congress can't reach some kind of an agreement. checking the big board right now, the dow jones industrial average is down about 41 points. again, we've got a half day of trading and we close today at 1 p.m., so that traders can go out on christmas break. light volume, but there are significant movers that we'll talk about in just a second. in particular, apple and jb penpejb-- j.c. penney. we have shibani joshi and adam shapiro as well and first to nicole, j.c. penney, a lot of people worried about retail sales, think it's going to hit companies like j.c. penney hard? guess what? the stock is up 4%, why? >> that's a huge move on a day when the major market average, look the at j.c. penney, it's posted comments from oppenheimer this morning, talking about the fact that promotions are working well and bringing traffic into john kerry opiniony, you know that we spoke about ron johnson and came up from apple and his whole theory, was no promotion and great prices all the time and that really was work
equipment to answer legislation on this and finances district proceeds are basically tax increpts that is baseline established and growth above that baseline of what pedestrian interest tax and so it's similar to increment financing and these are at the growth and tax of project's cause that otherwise go to the taxing entities pribblely the generally fund and we hold those proceeds to repay the investment and infrastructure. so no, to the proposed policy. there has been a long tradition both in the charter and in the burton act that the harbor fund is a self supporting the port is a self supporting enterprise and the city obviously, we pay for that was we purchase from the city and we want to maintain a balance so that the 50 city is not subsidizing the hash fund for our activities and the general services that we require from the city and so we have under taken a nexxus analysis in 2004 and eight that looks at the balance of payment and the next is the methodology that ports with long term leases where the tenants pay tax they pay ampleel tax to be provided these services lik
>> we have two mainly threats on the horizon. the fiscal cliff and tax increases for everybody if the deal is not reached this week, but potential strike, law shoreman threatening to walk off the ports in the east on gulf coast. this could disrupt billions of dollars in shipments. joining us now ed butowsky, a hell of a way to start a week with the threat after strike. to put it in context, when l.a. had a dock workers strike ten years ago, it cost a billion dollars a day. this is going to affect ports in newark, houston, miami, this could be several billion dollar hits every day to our economy? >> yeah, and i tell you, when you look at it, it's really similar. there are some parallels to the fiscal cliff discussion. because the arguments are about are the royalty payments that the dock workers get for bringing merchandise on board and unloading the cargo and what the similarity is really that we're not-- they're not talking about more business, they're talking about how do we split up the same pie and same thing with the fiscal cliff, we're not talking growing the economy, how
this year. we are helping those families by freezing the council tax and by making sure that we help families with the cost of living. >> ed miliband. >> mr. speaker, we both pay tribute to workers and volunteers, but i never thought the big society was about feeding hungry children in britain. the problem is working people are turning to food banks. one head teacher of a teacher rated at standing says that even children with a parent or parents in work are often struggling with the choice between heating their homes, buying their children clothes, or buying them food. a report last week by the children's society said that 2/3 teachers were providing people with food or money to prevent them going hungry. mr. speaker, why does he think is happening, and why does it appear to be getting worse on his watch? >> i agree. we do have to do more to help the poorest in our country. that is why we have lifted the personal tax and have taken 2 million of the lowest paid people and remove tax altogether. if you take someone who is on a minimum wage to works full- time, because of the tax change
's no deal, let's look at what happens to tax rates in just seven days and these stats are from the tax policy center. the annual income from somebody in the $50,000 to $75,000, about a $2,400 increase. jumping ahead to $100,000 to $200,000, the average tax increase, $6,600. tacking at that great divide of the wealthy, over $250,000, at least a $11,000 tax hike. over $1 million, more than $254,000. >> hampton, looking at that number, that's for those americans working right now. there are still struggling americans, millions looking for work and what's the fiscal cliff mean for them? >> reporter: okay. we have unemployment at 7.7% last month and mainly went down because people gave up looking for work and jdropped out of th job market and out of work six months or longer. 4.8 million americans, they're the folks worried the most about unemployment benefits not extended after the first of the year. >> as we look at that number, that's staggering for so many. we have a "the washington post" poll that indicates 74% of americans support raising taxes on the top earners in this country. with
for the holidays. even as americans are facing more than $500 billion in tax hikes coming on january 1. with more on this, we have peter barnes, fox business sr. washington correspondent. what did the president have to say moments ago? >> john boehner did say that this would be a cooling off period. maybe they would have some time to reflect here. the president said that he did speak on the phone to speaker john boehner this afternoon. he also had majority leader harry reid to avoid the fiscal cliff and figure out a passport. he said he is ready and willing to try to get a compromise package done. all at once or stuff like that. but we'll have to wait until after the holiday. the president planning to hold out for the holidays, and congress is out for the holidays. the president saying that putting pressure began on republicans, house republicans, to least extend tax cuts for the middle class. that would be the step by scratch in transit approach and he is speaking to constituents back home who he hopes will give feedback to members of congress while they are there for the holiday to try to get t
for government to keep raising the value added tax. we've seen it happened in spain, italy and greece and wherever it's tried. adam: i lived in spain a long time ago. i guess you realize you don't paying it at the time but things are more expensive. david: thank you, gang. thank you very much. thanks to the company. thanks to you for watching. now here are dagen and dennis. hi, gang. dagen: merry christmas. love to your family. david: thank you. same to yours. dagen: i'm dagen mcdowell everybody. dennis: i'm dennis neal -- kneale. dagen: is it the fiscal cliff fears that have shoppers down this season? retailers are reporting slowing sales over the last couple of weeks. dennis: a woman fired for being too attractive and a supreme court says it is legal. dagen: i will bite my tongue because it is the top of the hour and stocks now and every 15 minutes. nicole petallides at the new york stock exchange. hey nicole. nicole: i look forward to hearing more about that particular story as i watch the stock market here, i do see the dow is down about 1/3 of 1%. majority of the dow components a
days to go, is it still possible to make a deal to head off big tax increases and spending cuts? captioned by closed captioning services, inc. , republican john borasso and democrat kent conrad. >> as the nation mourns the victims of a newtown school shooting we turn to a man of faith for some answers. in these trying times he sees the need for a spiritual awakening. we will discuss the sandy hook massacre and the meaning of christmas. plus, a change at the state department as the benghazi report is finally released. we will ask our sunday panel about the nomination of john kerry to rehe place hillary clinton and where the investigation of the terror attack that killed four americans goes now. and our power player of the week continues his holiday tradition to show respect for veterans. all right now on "fox news sunday." hello again from fox news in washington. at christmas, people who are naughty get coal in their stockings and at the white house and congress -- if the white house and congress don't make a deal in the next nine days to avoid the fiscal cliff we ring in the new
hook tragedy. >>> a massive tax hike and spending cuts -- republicans and democrats continue to point fingers in opposite directions, hinting that talks could go into the new year. >> are we going over the cliff? >> i believe we are, and i think the president is eager to go over the cliff for political purposes. he senses a victory at the bottom of the cliff. >> we only have nine days left here. when are we going to get serious about actual solutions? i would welcome john to tell me. he says he wants a solution. give us one, john. >> meanwhile, president obama is spending christmas in hawaii where he and the first lady attended the holiday memorial service for the late u.s. senator from daniel inouye. >> white house correspondent kristen welker. kristen, obviously they always say the white house travels with the president wherever he is. that's where the white house is. the president, though, is enjoying vacation, but still continuing to keep tabs on the fiscal cliff negotiations, correct? >> he is. white house officials describe this as a working vacation. i think there have been may
, or automatic tax hikes what they want in order to balance their spending? more on that coming up, does the president really wants to go over the fiscal cliff? lori: cannot wait to hear where we stand, the latest negotiation or any at all on the cliff. spending specifically on toys. there is not a runaway must-have toy this year, but there are some hits and a few misses as well. what will be under the trees or what will be stuck on the retail shelves. david: but first, we will tell you what drove the market today with today's "data download." continued gridlock in the beltway sending stocks lower. the shorts in the day of trading. all three major indices closing the red with the dow closing the best losses, energy and utilities led the declines while materials and consumer discretionary outperform. natural gas a big mover in the energy pits falling more than 2% despite colder weather in much of the country this week forecasters expecting mild temperatures in january and that might have hurt natural gas a little bit. the japanese yen falling to a 20 month low against the dollar. coming t
, if you are at work you can make some really good buys. you have the january effect, the tax loss selling going on all month. this year is an unusual year in that you have also not just tax loss selling but you have people taking gains on stocks that they've held for years that they're trying to take advantage of, the 15% capital gains rate. we've seen a lot of that. the point is there's been a lot more selling this december. i look for several stocks to bounce back in early january. >> you are on hold until you can see the whites of their ey in washington. right? i mean, you're waiting to see what happens with this fiscal cliff? >> i am. i tell you, i think that the christmas gift people are getting right now is to sell above 13,000. we were surprised we're not getting a deal. i'm surprised the market's as firm as it is and it is very easy to overthink this. well, must be firm. the bulls are strong. hey, we go higher. i think that's not the read at all. i think the initial reaction we got when they sent the house of representatives home on thursday night is what we're going to see when t
senator chuck kagel and make it to the pentagon? >> the house did not take up the tax measure today because it did on have sufficient support from our members to pass. house speaker john boehner's statement thursday evening as he stood in print of the republican conference, he recited the serenity prayer. god, grant me the serenity to accept the things which i cannot change and close the house for business until after christmas. there is no place like an empty house for the holidays. thus diane john boehner's plan b, which was destined to die anyway. >> let me be clear. speaker boehner's plans are nonstarters in the senate. >> boehner appeared friday morning and said, if this thing were easy, it would have been done decades ago. >> i am interested in solving the major problems that face our country. that means house leaders, senate leaders, and the president, are going to have to continue to work together to address those concerns. >> the president lifted his number to 400,000, no tax hikes for anyone making less than that, boehner says the million, still no deal. what happened out
are on holiday break. before he went on break he called for a limited extension on tax cuts for americans. the last best hope for a deal may rest in the senate. yesterday senator lindsey graham said he would vote for a revenue increase including a tax hike, but he doesn't like it. >> hikes are part of the solution driven by the president but he's going to get tax rate hikes. to my republican colleagues, if we can protect 99% of the americans from a tax hike, that is not a tax increase in my books. >> if there's no deal on new year's day households between $50,000 and $75,000 will see an increase of $2,399. meanwhile households with $5 money,000 $00,000 to 1 mill could see an crease of $3900. >>> overseas an attack on americans in afghanistan. police officers, over 50 have been killed by police and soldiers this year. >>> in syria a british-based human rights group said over 60 people were killed when there was an attack on a backry. yesterday's air strike was an apparent retaliation for new rebel offensive. elizabeth palmer visited the town in southern syria that'
for political purposes. i think he sees a political victory at the bottom of the cliff. gets additional tax revenue for new programs, gets to cut the military and blame republicans for it. >> attention now turns to the senate which will reconvene on thursday. the 27th. house majority leader harry reid now has the task of trying to cobble something together that could perhaps pass the senate and also pass the house with some republican support. the expectation would be some democratic support. the white house is still calling for the threshold on tax cuts to be a quarter million. it seems unlikely republicans would sign on the that, and officially president obama is supposed to be remaining here in hawaii through the new year, it seems likely he will be heading back to washington sometimes around when the senate convenes. and in the meantime, just up in the air about what is going to happen. is it going to be a very unmerry cliff-mass? perhaps. >> i feel like we should pause and listen to the best sound in the world behind you. the waves crashing on the beach. >> pretty good. thanks. >>> dan
of it as an unwarranted way to rake in extra money for simply going one's job. debra villalon shows us millions of our tax dollars are handed out. >> reporter: we asked state workers about pay. extra pay for the risk. or a hazardous material team. why would administrators at state headquarters reek in more than a million dollars in pay. the emergency was the recession pushing stop staff to put in long hours. >> i don't know what the rules there. there are different categories. >> they basically creating their own emergencies by creating a fiscal crisis. then to handle that crisis, they're benefiting from it. >> reporter: credits point to pay record showing supervisors who can't get overtime. >> the fact they're doing the ones doing the abuse is shocking to me. they should be representing us. >> reporter: employment development is one of dozens agencies. boosting managers pay by as much as $1200 a month. payouts total almost $5 million over 4 years during a time most state employees were being forced into unpaid furloughs. >> it has to be evaluated by management of our department. >> reporter: the fina
spending cuts and big tax hikes by january 1. the growing number of lawmakers say they are deeply skeptical that a deal can be reached in the next seven days, and we're beginning to hear new reports suggesting the president may have a smaller deal in mind, one that will keep tax rates where they are and, again, put off the issue of spending cuts. chris stirewalt, fox news digital politics editor, host of "power play" on foxnews.com, chris, good to see you. i was reading your recent column, i want to put a portion of it up on the screen, and i'll quote you: gregg: explain what you mean. >> a cheerful christmas thought, gregg. [laughter] merry, merry. no, when we look back at 2012, if you take a minute and look back at the arc of this year in politics, what you saw was the smallest -- it was the most expensive, but it was the smallest presidential election maybe if history. we didn't talk about anything. the president did talk about higher tax rates, but mostly it was as a way to talk about mitt romney's taxes himself. and we didn't talk about much in this except for mitt romney's character a
, whether it's the effects of the fed's monetary policy, year end, fiscal cliff tax related issues. the motivations are a little bit different this time around than they were last year. >> yeah. it's not as pressing, some would argue. some were actually saying on friday, maybe it would have been better if the markets had a sharper sell-off because that could have forced the lawmakers to do something as opposed to leave for obama to have a hastily called friday evening press conference saying, you know what, congress, you have ten days, you go work it out. it's doable. >> it's been an interesting year. of course, we started off so well, in terms of expectations for economic growth. we had an election this year, too. i think that's another thing that is sort of the key. we hit europe again as we had the last two years previously. but this last quarter, i think there's been a lot more optimism, even with the fiscal cliff sitting there, as sort of this potential, real roadblock at the end of the year. perhaps even too much optimism some would say. when you speak to ceos, there's still
cliff averting, tax-reforming package all wrapped in a big red bow, better fire off a quick note to santa. a grand bargain isn't going to come by christmas or new year's when all sorts of tax increases and automatic spending cuts take effect. it may take up president obama's bare bones stopgap measure. that plan would block tax hikes for those earning $250,000. it would extend unemployment benefits to 2 million americans and put off spending cuts until the new year brings a new congress. our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats especially who i'm talking to in the senate which is probably where this will originate, the reality is that democrats don't hold a very big majority. her going to need to have a handful of republicans to cross party lines and vote with them on the whole concept of raising any taxes. especially what the pr
the fiscal cliff, however, and that's the bad news. and looming tax hikes, spending cuts, all of that. both sides warning a very big deal becoming a bit more unlikely. >> and my one bit of advice to speaker boehner is this. you cannot pass a bill with just republicans. on a broad thing like this, you need both. and he has put himself with plan b and sort of an impossible position. he has to get these hard right goes to go along with him. and he and the president were going to say we're going to pass a deal with the majority of republicans and the majority of democrats in the house and senate, we would get a mainstream deal. >> i think we're going to fall out of the fiscal tree. the big deal for the big deal is at the debt ceiling. that's when we will have leverage to turn the country around. >> congress is now out of session for the christmas holiday. but expect it to be back thursday. joe, we talked to some of the senators and congress last week saying will you come back from vacation? some of them pretend like they weren't going, but i think they really were. >> if boehner's leadership is
kicks in and the taxes go off all people, we will probably get some kind of compromise. the problem is, it does not work in today's environment the way that they think. most of americans realize taxes have to go off in some amount. we have to stop spending money. ashley: ira, what is the best way to play that right now with all of this uncertainty? >> i would probably, if you have enough of a break from a start looking at some call options on the s&p. it could go back maybe towards the 1500 level. i am getting more bullish once they resolve things. then, later in the year, i will not have that bullishness. i think there are better things. more income, less spending. ashley: what are you asking santa for in regards to the markets? >> gold. [ laughter ] ashley: very good idea, ira. i love it. elliott, very thin volume today. tell me about your perspective. >> you really hit the nail on the head. we are open. there really is not much going on. everyone is waiting on a deal from washington. we have been on a holding pattern for a while. i think they should be taxing guns the way they tax c
is could you vote for a bill that extended tax cuts for $250,000 and below, extend ed unemployment insurance as the president wants to do and in some way delays some of these automatic spending cuts? could you vote for that in the short term? >> no. if you want leaders, then you have to lead. the president has been a pathetic fiscal leader. he's produced three budgets and can't get one vote for any of his budgets. boehner will be tip o'neill. obama needs to be ronald reagan. here's what i would vote for. i would vote for revenues, including tax rate hikes, even though i don't like them to save the country from becoming greece but i'm not going to set aside the $1.2 trillion in cuts. any hope of going over the fiscal cliff must start in the senate. not one democrat would support the idea that we could protect 99% of americans from a tax increase. boehner's plan b i thought made sense. to my republican colleagues, the ronald reagan model is if you get 80% of what you want, that's a good day. we have the same objective of more taxes. i like simpson-bowles. eliminate deductions, more r
that sentiment, if no deal is struck by next tuesday. people ma taxes will go up for everyone. you can see the numbers here, 40 to 65,000, it's $2,000 of a tax hike. so as constituents, if they were to call you and they say why is this happening, what are you going to say to them? >> well, first of all, that's not going to happen. we may go off the cliff on january 1st but we would correct that very quickly thereafter. what i'm telling them is the reason it's happening is we have idey ideologues in the house of representatives who don't believe there's a fiscal side of the budget. they're focused on cutting spending in unprecedented ways and they don't believe in taxes essentially. on the budget committee we've seen this day in and day out. these members of the house, and i don't know how many of them there are, but at least 50 or 60 basically have established a record in which ne hathey have firmly embraced the concept of not raising taxes and serious cuts that they put themselves in a box and they really can't get out and that's really tying up everything. because we can do a deal very q
the cliff because then tax less go up. take a listen. >> when i listen to the president i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at the bottom of the cliff. he gets all this additional tax revenue for new programs. he gets to cut the military which democrats have been calling for, for years. and he gets to blame republicans for it. >> reporter: democrats say that is ridiculous, that the president has been working with republican leaders again and again trying to workout some sort of a deal, both on spending and taxes to avoid the fiscal cliff, and democrat chuck schumer yesterday said the real problem is that republicans won't admit the president won the election and that tax rates are going up. take a listen. >> on taxes, i know it's hard for the republicans, but the president ran on that platform, 250, no tax increase for people below, but taxes for people above, he won 60% of the voters said they were for it in the exit polls, including some republicans. >> reporter: all eyes now turning to the possibility
with the president's position that both sides should avoid tax hikes on middle-class americans. also, nra executive said the group would not support any new gun laws in this country. good morning this monday, december 24, 2012. we will begin this morning with your thoughts on religion and politics. as a religion influence your political decisions? also send us your tweet if you go to twitter.com -- we will begin with the sunday review section of the "the new york times" yesterday. we want to get your take on this. it does religion influence your politics? with more people saying they are unaffiliated. we want to get your take. here are some comments from facebook this morning. what are your thoughts on this december 24, 2012. it does religion influence your politics? let me show you this from "the new york times" this morning. a new poll out worldwide religion shows up that one out of six follows no religion. that is worldwide. all religions outside the united states as well. the upi story. religious identity affect voter choice. and then on the 2012 election, here is the pew forum on religion and
about boots on the ground, american tax dollars. i'm just talking about paying attention this and using the leverage of the moral authority of the united states to save lives. >> schieffer: that's happen? what would you like to see happen? >> i think the first thing that has to happen is there needs to be security in this country. right now, there is a u.n. peacekeeping force of about 17,000 soldiers that is complete feckless. they really haven't done anything. their mandate is to protect civilians. they haven't done that. they need a leadership change and a mandate change and they need to be completely reevaluated. in a larger sense, this is a country that needs security sector reform. they have no real functioning army. the army as it exists preys on the population rather than defending. the army is responsible for 40% of the rapes in the country. there is no judicial system, no functioning police system. those are the things that need to be rehabilitated to begin with so you can create a space to develop a civil society. >> schieffer: you know, you are interested in a lot more than f
this middle-class tax hike is not a democratic responsibility or republican responsibility. with their foes the american people have determined that governing is a shared responsibility between both parties in this congress laws can only pass with support from democrats and republicans, and that means nobody gets 100 percent of what they want. lou: there are only ten days remaining to the fiscal cliff. president obama headed to value within actually minutes, and members of congress have also gone home for chrrstmas vacation already. in a news conference today, speaker boehner admitted negotiations with the president have, indeed, been difficult. >> until the president on monday, these are my bottom lines. the president told me that his numbs, $1 trillion in new revenues, 850 billion in spending cuts was his bottom-line. he could not go any further. lou: and he didn't. the plan be option collapsing last night when he failed to get republican support to raise taxes on only those making more than a million dollars a year. over in the senate majority leader harry reid pounced on the very public
make a crippling amount of tax hikes and spending that could send us back into recession, you've heard that over and over. steve, at this point what are the chances that a grand bargain can still be struck? >> well, harris, it's possible, but getting less likely because it just really isn't a lot of time left. house speaker john boehner will be back next year and for now, he's thrown the ball into the democrats court and some republicans are saying the president isn't really trying to avoid that fiscal cliff. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at the bottom of the cliff. he gets all of this additional tax revenue for new programs and gets to cut the military which democrats have been calling for for years and he gets to blame the republicans for it. >> and independent senator lieberman saying it's likely that it will pass with no action, harris. >> harris: how soon can we expect negotiations to get back underway. >> not until after christmas. and wednesday, most likely on thu
. it will be thursday before talks resume to prevent automatic tax hikes and spending cuts taking effect january 1st. on friday, speaker boehner and the president left town with no deal each making a parting pitch. >> we have asked leaders of congress to work towards a package preventing a tax hike on middle class americans protects unemployment insurance for two million americans, and lace the ground work for further work on both growth and deficit reduction. >> the president's solution of raising tax rates would be red ink as far as the eye can see. and it would hurt jobs. >> if congress fails to reach any agreement in con-- income tax rates will go up on about everybody on january 1st. unemployment benefits will expire for many as well. >>> the u.s. senator arrested for driving under the influence says he is "deeply sorry" for what happened. police say that michael crapo was pulled over early sunday in dc for running a red light. he he was arrested after failing a sobriety test. he has been released on bond and he is a mormon from idaho and has said in past interviews he abstains tans from drinki
break. the president vacationing in hawaii and you are looking at a pretty hefty tax hike if they don't come to an agreement. law makers have one week to come up with a deal to avoid the fiscal cliff. some republicans now say the president wants the country to go over the cliff. last week president -- last week's speaker of the house john boehner failed to get the plan b passed but he failed to even bring to a vote. and if his own party that kept it from happening. so as the bickering continues over who is to blame the president and speaker left town after making the parting pitches. >> the work towards a package that prevanes tax hike on mid -- prevents a tax hike on middle class americans protect unemployment insurance for 2 million americans and lays the groundwork for further work on both growth and deficit reduction. >> the president's solution of raising tax rates would be redink as far as the eye could see and it would hurt jobs. >> president obama says that he will cut his holiday vacation short and try to hammer out the deal with congress. law makers are expected to return to
should know by now no deal would meet a crippling addition of tax hikes and spending cuts that could plunge our economy back. steve at this point what are the chances that a grand bargain can still be struck? >> it is possible it is getting less likely. there isn't a lot of time left. house speaker john boehner will be back but for now he's throwing the ball in the democrat's court. some republicans are saying the president isn't trying to avoid the fiscal cliff. >> when i listen to the president i think he's eager to go over for a political purposes. he gets all of this additional tax revenue for programs he gets to cut the military canwhich democrats have been calling for for years. he gets to blame republicans for it. >> independent senator joe leiber than is saying it is appearing more likely the deadline will pass with no action. harris? >> how soon can we expect negotiations to get back underway? >> wednesday at the earliest possibly friday. one of his democratic allies today that position should come as no surprise to any one. >> i know it's hard for the republicans. 2.50 no t
out a deal to keep taxes for 98% of americans from going up on the first of january. but both sides aren't talking and congress is in recess until after christmas. republicans aren't holding out any hope for a deal. >> i would hope that we would have one last attempt here to do what everyone knows needs to be done, which is a larger plan that really does stabilize the debt and get us moving in the right direction. >> if we get down to the end of this year and the oil only choice we have is to save taxes going up on the middle class, then i would support that. but i wish we had a comprehensive bill that dealt with spending and entitlement altogether. >> i believe the president senses a victory at the bottom of the cliff. >> some finger pointing. other republicans are now looking past new year's day to the next battleground. >> i will raise the debt ceiling only if we save medicare and social security and prevent this country from becoming greece. no more borrowing without addressing why we're in debt to begin with. that's where the real chance for change occurs, at the debt ceiling d
tax hikes and spending cuts from taking effect january the 1st. andrew spencer with the very latest from washington. >> reporter: some republican lawmakers say president wants the country to fall over the cliff. >> we were going over the cliff before. that's what the president wants. >> john boehner failed to get vets in on thursday. that would have raised taxes on people earning more than a million dollars a year. on friday speaker painer and the president left with no deal, each making a parting pitch. >> i asked leaders of congress to work toward a package that prevents a tax hike on middle- class americans, protects insurance for 2 million americans and laze the groundwork for further work on both growth and deficit reduction. >> the president's -- it would hurt jobs. >> reporter: the partisan bickering has put the country on the brink of a potential economic crisis. some long-time lawmakers dismid- by the perpetual gridlock. >> the first time i feel it's more likely we will go over the cliff than not; and if we allow that to happen, it will be the most colossal consequential
he made. he limited the reach of the tax cut, changed the indexing of social security. he put that stuff in there to get republican votes. i think if john boehner -- and it would take courage, said we're going to let the whole housework its will, you can't pass a lot of reasonable bills if you worked from the center out instead of starting from the far right and see what they can take. it's clear they're not going to accept much of anything that might be helpful. >> red state was reporting 34 would bolt from the caucus. what's your thought here, e.j.? did the republicans do a disservice to themselves? >> absolutely. i think they took themselves out of the negotiation. in the end, the house has to approve something. you were mentioning that a deal could start in the senate. even if you get something through the senate, is it stalls has to pass the house. again it's john boehner taking a big political risk, but saying we're going to put together a coalition of republicans who want to govern and pass something together with democrats who want to govern and pass something. >>> i w
center is up next. gregg: and just eight days left until massive tax hikes and spending cuts kick in affecting the lives of every single american. so with washington on vacation, is this now simply unavoidable? we'll take a look for answers next. >> i think the president is eager to go over the cliff for political purposes. i think he see as political victory at the bottom of the cliff. heather: we have breaking news of yet another shooting. just crossing the wires. report that is a gunman has opened fire on firefighters responding to an emergency. this happening in webster, new york, near lake ontario. david lee miller live in our new york newsroom with the latest. david lee, what can you tell us? >> reporter: many details are still sketchy, heather but at this hour i can tell you firefighters were responding to a blaze at 6:00 this morning in the town of webster. webster is a suburb of rochester, new york. it is difficult to fight a fire when temperatures are 30 degrees. someone according to media reports, someone opened fire on firefighters. two firefighters are being treated.
weapons. >> glor: margaret brennan, thank you. there are eight days now until fhe fiscal cliff of big tax increases for most americans. and across-the-board spending cuts in the federal budget. even with congress adjourned and president obama out of town, erme lawmakers today talked about a last minute deal. >> my own belief is what we ought to do is take speaker boehner's last offer, the president's last offer, split the difference. that would be a package of about $2.6 trillion. you couple that with the 1.1 trillion already done. that would be close to the $4 trillion we need to stabilize the debt and begin to bring it down. >> i would vote for revenues, including tax rate hikes even ugh ih i don't like them, to get a-- to save the country from becoming greece, tax rate hikes are part of the solution driven by the president. but he's going to get tax rate hikes. ratey republican colleagues, if we can protect 99% of the american public from a tax hike that is not a tax increase in my books. >> glor: with christmas just two nuys away last minute gift buyers are out. today shopper track sa
to adopt a stopgap measure to prevent taxes from rising on people who make less than 250,000 a year. he also asked for a plan to keep providing benefits to unemployed workers. house speaker john boehner is home in cincinnati. he failed to get members of his own party to support his plan b proposal for ending the crisis. speaker boehner says the stalemate and the failure of plan b is the democrats' fault. >> the president -- what the. has offered so far simply won't do anything to solve our spending problem and begin to address our nation's crippling debt. instead he wants more spending and more tax hikes that will hurt our economy. and he refuses to challenges the members of his party to deal honesty with the entitlement reform and the big issues facing our nation. that's why we find ourselves here today. >> the president is scheduled to return to washington wednesday. there's no word if any new talks are planned. >>> even if we go over the cliff, workers won't feel all of the tax increaseness their january paychecks. the american payroll association says it's already too late for emplo
of the cliff. he gets the additional tax revenue for new programs and he gets to cut the mill their, that democrats have been calling for and he gets to blame republicans for it. >> top allies note he has tried to get a deal for weeks and says the real problem that republicans won't admit that obama won the election. >> on taxes, i know it's hard for republicans but the president ran on the platform. 250. no tax increase for people below but taxes for people above. he won. 60% of voters said they were for it in exit polls including republicans. >> wake of house speaker john boehner's plan "b" failure, all eyes turn to senate leaders harry reid and mitch mcconnell and whether they work out something short of $4 trillion grand bargain. last-minute stop gap. attending tax cut for people making $250,000 or less. and unemployment benefits for 2 million people who will lose the benefits a week after christmas. >> it is going to be a patch. because in four days we can't solve everything. >> yet, other republicans note the president short-term fix raises some taxes, yet punt spending cuts u
the country to go off the fiscal cliff to gain political points are lawmakers playing chicken with your taxes? >>> and a winter storm may be headed your way. who may be getting a white christmas and what it means for your holiday travels. we'll have all of that, coming up. good morning, everybody. welcome to early start. i'm alina cho in new york. >> and i'm dana bash in washington. john and zoraida are off. >> a developing story in afghanistan. an adviser to the afghan police has been shot and killed by a woman wearing an afghan police uniform. the latest in the series of green on blue insider attacks and our pentagon correspondent barbara starr joins us live with details on that. good morning. how unusual is this? >> well, alana, sadly this is a story we've report sod often during the year, haven't we? the details on this attack are different in one respect. as far as we know this is a case where a woman, an afghan woman in a police uniform conducted this shooting and killing. a contractor in cab uhl police headquarters. the nato alliance has already announced the incident but not said the
from the fiscal cliff. talks to try to prevent automatic tax hikes and spending cuts won't resume until thursday. andrew spencer has the very latest. >> reporter: some republican lawmakers says president obama wants the country to fall off the fiscal cliff. >> we were gonna go over the cliff before. we are gonna now because that's what the president wants. >> reporter: house speaker john boehner failed to get enough vote for his plan b on thursday. that would have raised taxes on people making more than a million dollars a year. on friday, they left town with no deal. >> i've asked leaders of congress to work toward a package that prevent as tax hike on middle-class americans, protects unemployment insurance for 2 million americans and lays the groundwork for further work on both growth and deficit reduction. >> raising taxes could still be red ink as far as i can see and it would hurt jobs. >> reporter: some long-time lawmakers are dismayed by the perpetual gridlock. >> i feel it's more likely we'll go over the cliff than not and if we allow that to happen, it will be the most colossal
of our revenue stream. we're only talking about, with the bush tax cuts, we're only talking about putting a third of that back in. >> it's going to take both houses of congress and everyone to realize we can't let taxes go up on working people in this country, and the bush tax cuts are tax cuts that did help our economy in the beginning. >> you know where this is going. if no deal by january 1st, taxes for 90% of us will be going up. and that's just the beginning. former president george h.w. bush may not be coming home in time for christmas. doctors at a houston hospital say the 41st president needs to build up his injury before they can release him. it can still happen. the 88-year-old mr. bush was hospitalized back on november 23rd for a bronchitis-related coughing. [ guns shooting ] [ trumpet playing ] >> the 19 cannon salute part of the final farewell for senator daniel inouye. the senator, army veteran and war hero died of respiratory complications last monday. president obama and military leaders were on hand as the state bid farewell to its most favorite son. daniel inouye was 88
of trying to change the tax code to limit charitable conjured -- contributions. do you agree on that especially the man from the ayn rand institute. [laughter] >> no. i believe to the extent we have a tax cut it should be as simple as possible with no attempt to dictate what they think is the good use of the money. social policy should not be done through the tax code. john: and i agree. [applause] people would still give. >> i think that point* of view has a great deal of merit but i applaud respectfully say the charitable deduction is an important part of american life. we don't have giving because of the charitable deduction but because we've value that. it is an important mechanism to link communities and. john: the charity does not the deduction. >> is a signal of a set of values. john: from facebook. do think it is better to give time or money? >> is great to do both. john: pic one. >> i don't. [applause] i think the best way to understand how way charitable organization works is to help achieve the mission is put to your time where your money is. john: people who give
for a revenue increase including a tax hike, but doesn't like it. >> hikes are part of the solution driven by the president but he's going to get tax rate hikes. to my republican colleagues, if we can prevent 99% of the americans from a tax hike, that's not an increase in my book. >> households between 50 and $75,000 will see a an increase of $2,399. meanwhile households of. >>> overseas an attack on americans in afghanistan. police officer police officers, over 50 have been killed by police and soldiers this year. >>> a british-based group said over 60 people were killed. yesterday's air strike was an apparent retaliation for new rebel offensive. elizabeth palmer visited the town in southern syria. >> reporter: conflict has engulfed syria over the past 21 months from one end of the country to the other, but so far it's barely touched the town in southern syria near the border with jordan. the people who live here are a religious group that's allied itself with president bashira a assad. the regime is anxious to showcase its community showing supporters willing to reinforce the line. it's
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